Page 2 - Loan

Should you take a loan against mutual funds? Check details before opting

Loan against mutual funds is a financial solution that allows you to create an overdraft facility against your mutual fund units

Medical emergency loan: Quick access to funds carries higher interest rates

Such loans typically offer faster processing times and easier eligibility criteria

Tata Communications raises $250 million sustainability-linked loans

ANZ acted as the lead sustainability coordinator for the loan, while DBS Bank and EDC were the joint sustainability coordinators

Planning to purchase a car? Here are best loan rates by various companies

Processing fees and rules of top lenders listed to help you make a decision

Vodafone Idea in talks to avail loans worth $1.8 billion, says report

The company has reached out to state-run lenders State Bank of India (SBI), Bank of Baroda, Punjab National Bank and some privately-held banks, the report said

RBI releases draft guidelines for web aggregators of loan products

While LSP can adopt any mechanism to ascertain the willingness of the lenders to offer a loan, the RBI said it should follow a "consistent approach" that must be disclosed suitably on their website

SBI Surya Ghar Scheme for solar rooftop financing: All you need to know

All individual applicants who have sufficient roof area and rooftop rights on which the installation is proposed, can avail this loan for installation of solar roof Top of up to 3 KW capacity

Microcredit facilities for street vendors: Know about PM SVANidhi scheme

Under this scheme, the street vendors can take collateral-free loans with low interest

BJP promises to double Mudra loan ceiling to Rs 20 lakh: Details here

Under the PM Mudra Yojana (PMMY), over 460 million loans worth Rs 27 trillion have been given so far

Bank of India signs pact with IMGC for mortgage guarantee on home loans

IMGC's guarantee will mitigate the risk of defaults for the bank, allowing it to potentially offer more favourable loan terms to borrowers, the company said in a statement

IMF approves $8 billion loan plan for Egypt as global bailout takes shape

The executive board's assent increases the Extended Fund Facility arrangement from the $3 billion originally approved in December 2022 to $8 billion

IMF to increase Egypt's bailout loan to $8 billion to shore up its economy

The executive board of the International Monetary Fund confirmed a deal with Egypt to increase its bailout loan from USD 3 billion to USD 8 billion, in a move that is meant to shore up the Arab country's economy which is hit by a staggering shortage of foreign currency and soaring inflation. In a statement late Friday, the board said its decision would enable Egypt to immediately receive about USD 820 million as part of the deal which was announced earlier this month. The deal was achieved after Egypt agreed with the IMF on a reform plan that is centred on floating the local currency, reducing public investment and allowing the private sector to become the engine of growth, the statement said. Egypt has already floated the pound and sharply increased the main interest rate. Commercial banks are now trading the US currency at more than 47 pounds, up from about 31 pounds. The measures are meant to combat ballooning inflation and attract foreign investment. The Egyptian economy has be

NHPC inks agreement with Japan's JBIC for around Rs 1,100 crore loan

State-owned hydropower giant NHPC on Thursday said it has inked a loan agreement of JPY 20 billion (around Rs 1,100 crore) with Japan Bank for International Cooperation (JBIC) for developing a 300 MW solar project in Bikaner, Rajasthan. This is the first kind of loan syndication by NHPC with JBIC for the financing of renewable energy project, a company statement said. According to the statement, JBIC's loan is co-financed with MUFG Bank Ltd., Japan and Bank of Yokohama Ltd, Japan. NHPC has secured a foreign currency loan of JPY 20 billion from JBIC for the implementation of renewable projects, including a 300 MW solar power project, Bikaner, it stated. The loan agreement was signed by the senior officials of NHPC and JBIC. The facility is extended under JBIC's GREEN Operations (Global Action for Reconciling Economic Growth and Environment Preservation), which ensures the preservation of the global environment.

Govt, ADB ink $23 milllion loan agreement to strengthen fintech ecosystem

The government and the Asian Development Bank (ADB) on Thursday signed a USD 23 million loan agreement to enhance access to quality fintech education, research, and innovation at the Gujarat International Finance Tec-City. GIFT City is an initiative of the Centre and the Gujarat government to foster India's financial services and fintech ecosystem, the finance ministry said in a statement. As per the loan agreement, a fintech institute will be set up at GIFT City. The pact was signed by Finance Ministry Joint Secretary Juhi Mukherjee and Officer-in Charge of ADB's India Resident Mission Rajesh Vasudevan. After signing the agreement, Mukherjee said the project will establish International Fintech Institute (IFI) to strengthen fintech education, boost startup success rates, and drive fintech research and innovation. "The project's emphasis on market-driven fintech skills programmes, creating enabling environment for private sector investment and enhancing collaboration between indust

'Mahindra Finance aims to nearly double non-vehicle loan book in FY25'

Currently, non-vehicle finance comprises 5%-6% of the company's loan book. The target will be met in phases and may not exceed 10% in 2024-25, Iyer said

Paytm crisis: Non-bank lenders explore options for loan disbursal

While non-bank lenders have not terminated their contracts with Paytm, sources said that they have no visibility as to when they might be able to resume lending through the Paytm app

Airtel prepays Rs 8,325 cr to clear 2015 spectrum acquisition liabilities

Bharti Airtel has prepaid Rs 8,325 crore to the Department of Telecom towards part prepayment of the deferred liabilities pertaining to spectrum acquired in the 2015 auction, the company said on Tuesday. Bharti Airtel won spectrum worth Rs 29,129.08 crore in the auctions that were held in March 2015. The company had paid Rs 11,374.7 crore, while the upfront amount due was Rs 7,832.20 crore. "Bharti Airtel has prepaid Rs 8,325 crores to the Department of Telecom (Government of India) towards part prepayment of the deferred liabilities pertaining to spectrum acquired in the auction of the year 2015, which were at an interest cost of 10 per cent," the company said in a statement.

Tata unit Agratas in India in talks for green loan of up to $500 million

The wholly owned subsidiary of Tata Sons Pvt Ltd develops battery cells, with factories in India and the UK. Its facilities are designed to be powered by clean energy, according to company's website

Pakistan receives $700 million tranche from IMF ahead of elections

Ahead of the next month's elections, cash-strapped Pakistan on Wednesday confirmed that it received over USD 700 million second tranche from the International Monetary Fund (IMF) under an existing USD 3 billion bailout package. The loan was part of a USD 3 billion bailout package agreed towards June last year when Pakistan was slowly drifting towards default. The State Bank of Pakistan (SBP) confirmed in a statement that it has received SDR 528 million (equivalent to $705.6 million) in value 16th January 2024 from IMF following successful completion of the first review by the Executive Board of IMF under Stand By Arrangement (SBA)." It further said that the disbursement will be reflected in SBP reserves for the week ending on January 19, 2024. The handing over of around $700 million brings the total disbursements under the SBA with the IMF to $1.9 billion, while another $1.1 billion will be provided in April as the two sides are set to complete the nine month program. The ...

China agrees to consider restructuring of loans: Maldives President Muizzu

Maldives President Mohamed Muizzu said on Saturday that China, largest external creditor to the country, has agreed to consider restructuring the repayment of loans taken by his country and the governments will initiate negotiations soon. He told the media in Male after his return from a five-day high-profile state visit to China that he has directly appealed to Chinese President Xi Jinping to restructure the loans provided to the Maldives. He said that the loans were direct loans and that a technical team from China's Finance Ministry will travel to Maldives soon to research and decide the way to offer a grace period in loan repayments over next five years, Maldives news portal Sun online reported. This will allow us great easements in loan repayment, he said. China is currently the Indian Ocean island nation's largest external creditor, comprising about 20 per cent of its total public debt, according to data from the International Monetary Fund (IMF). Data shows that Maldives owe